TOKYO (AP) -- Japanese automaker Mazda Motor Corp. reported Thursday a 41 percent surge in profits for its latest fiscal year on rising sales and cost-cutting.
Net group profit at Mazda, based in Hiroshima, totaled 33.9 billion yen ($298 million) for the fiscal year ended in March, up from 24.1 billion yen the previous year -- the third consecutive year of better profits.
Sales totaled 2.9 trillion yen ($25.6 billion), up 23 percent from 2.36 trillion yen.
Mazda vehicle sales inched down in Japan and North America, but jumped 29 percent in Europe.
Overall, Mazda sold 1.2 million vehicles, up 20 percent from 1 million a year ago, and expects to sell 1.18 million vehicles in fiscal 2004.
Mazda, which is 33 percent owned by Ford Motor Co. of the United States, introduced the Mazda2 car in Europe in the latest fiscal year and began worldwide sales of the RX-8 sportscar and the Axela-Mazda3 sedan.
"We are confident that our product-led growth will continue," Mazda president and chief executive Hisakazu Imaki said.
For the fiscal year ending March 31, 2005, Mazda is forecasting a profit of 34 billion yen ($299 million) on sales of 2.66 trillion yen ($23.4 billion).
Vehicle sales are expected to hold steady as models roll into showrooms in key markets, including Japan, the United States, Europe and China, Mazda said.
Full Story HERE
Net group profit at Mazda, based in Hiroshima, totaled 33.9 billion yen ($298 million) for the fiscal year ended in March, up from 24.1 billion yen the previous year -- the third consecutive year of better profits.
Sales totaled 2.9 trillion yen ($25.6 billion), up 23 percent from 2.36 trillion yen.
Mazda vehicle sales inched down in Japan and North America, but jumped 29 percent in Europe.
Overall, Mazda sold 1.2 million vehicles, up 20 percent from 1 million a year ago, and expects to sell 1.18 million vehicles in fiscal 2004.
Mazda, which is 33 percent owned by Ford Motor Co. of the United States, introduced the Mazda2 car in Europe in the latest fiscal year and began worldwide sales of the RX-8 sportscar and the Axela-Mazda3 sedan.
"We are confident that our product-led growth will continue," Mazda president and chief executive Hisakazu Imaki said.
For the fiscal year ending March 31, 2005, Mazda is forecasting a profit of 34 billion yen ($299 million) on sales of 2.66 trillion yen ($23.4 billion).
Vehicle sales are expected to hold steady as models roll into showrooms in key markets, including Japan, the United States, Europe and China, Mazda said.
Full Story HERE
